More on the HSBC (HBC) loan portfolio sale: The package has a book value of $3.4B vs. the sale...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

More on the HSBC (HBC) loan portfolio sale: The package has a book value of $3.4B vs. the sale price of $3.2B, so the bank won't book too much of a loss. Newcastle Chairman Wes Edens said just days ago this could be the year when banks really start to unload non-performing loan portfolios, and the buy makes a nice addition ahead of the spinoff the company's residential business.